Bitcoin reaches a new all-time high of $81,000, most Altcoins follow suit
The crypto market has experienced significant volatility since November 5, following the election of Donald Trump as the 47th US President. Bitcoin has surged to a new all-time high, trading above $81,000 (approximately Rs. 68.3 lakh) over the weekend. At the time of writing, Bitcoin is priced at $81,500 (approximately Rs. 68.7 lakh) on global exchanges, according to data from CoinMarketCap. Over the past 24 hours, Bitcoin’s value has risen by about three percent, reaching this major price milestone. On Indian exchanges, BTC is currently trading at $81,709 (approximately Rs. 68.9 lakh) as of Monday, November 11.
“Bitco rose to an all-time high of over $81,000 (approximately Rs. 68.3 lakh), driven by Donald Trump’s victory in the US and the election of pro-crypto candidates to Congress. This political change has raised hopes for a more favorable regulatory landscape and fewer restrictions in the cryptocurrency markets,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360, explaining the relationship between Trump and Bitcoin. “It is expected that this new supportive legislative landscape could drive innovation and adoption within the sector. Investors are hopeful about the possibility of long-term growth and stability in the cryptocurrency space as confidence increases.”
Ether suffered a small dip of less than one percent on both national and international exchanges on Monday. At the time of writing, ETH was trading at $3,170 (approximately Rs. 2.67 lakh) on global exchanges, while in India the asset is worth $3,306 (approximately Rs. 2.79 lakh), Gadgets360’s crypto price tracker shows. Significantly, Ether has crossed the $3,000 (approximately Rs. 2.53 lakh) mark for the first time this year.
“Ethereum has also recovered amid positive sentiment following Bitcoin’s latest spike. This upside momentum could fuel price action in broader markets,” said Edul Patel, CEO of Mudrex.
Dogecoin, USD Coin, Ripple, Cardano, Tron and Shiba Inu posted gains.
Polkadot, Near Protocol, Cronos, Stellar, Bitcoin SV and Polygon also recorded price increases that lagged BTC on the crypto chart.
According to CoinMarketCap, the overall crypto market grew by 1.42 percent in the past 24 hours. Currently, the crypto market capitalization has touched the $2.73 trillion (approximately Rs. 2,30,37,294 crore) mark, shows CoinMarketCap.
Tether, Solana, Binance Coin, Avalanche, Litecoin and Leo reflected losses on the price charts.
Monero, Iota and Binance USD are also trading sideways amid the volatility.
“The $100,000 mark (approximately Rs. 84.3 lakh) is indeed the next big psychological milestone for Bitcoin and its achievement could be fueled by further institutional inflows, ETF expansion and supportive regulatory shifts. This momentum, combined with Bitcoin’s unique fundamentals of scarcity, decentralization and institutional adoption, makes it an attractive asset in diversified portfolios,” said Sumit Gupta, co-founder of CoinDCX, while suggesting investors make researched decisions before investing enter the volatile market. the time.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information contained in this article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
